It’s been a little while since we’ve given you an update on the Northern Virginia real estate market, so we thought this would be a good time to review exactly what we’re seeing in the market. Right now, there’s good news for both buyers and sellers. Interest rates are still at historic lows and we continue to see a low level of inventory.
Buyers can take advantage of these low interest rates and lock them in for 15 or 30 years. They can also take advantage of the fact that there are fewer buyers in the market during this time of year than in the spring or summer.
Sellers can benefit from the limited supply of homes for sale. Demand is high and supply is low - it’s economics 101. We’ve helped many clients sell their homes for record prices this year. There’s a huge advantage to selling now.
The last thing I will say is that my crystal ball can’t predict what’s going to happen in the coming months with interest rates and/or national/global events. So, predicting the market 6 months from now can be risky. What we can count on is our current market of low rates, low inventory, high buyer demand and strong sales. If you’re considering a move, don’t miss this opportunity in the market.
If you have any questions for us about real estate or you’re interested in buying or selling a home, give us a call or send us an email. We look forward to hearing from you.